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Unaudited Financial Statements |
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for the Year Ended 28 February 2021 |
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for |
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Jonpye Bathrooms + Kitchens Ltd |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 28 February 2021 |
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for |
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Jonpye Bathrooms + Kitchens Ltd |
Jonpye Bathrooms + Kitchens Ltd (Registered number: 05025518) |
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Contents of the Financial Statements |
for the Year Ended 28 February 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Jonpye Bathrooms + Kitchens Ltd |
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Company Information |
for the Year Ended 28 February 2021 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
17 Queens Lane |
Newcastle upon Tyne |
Tyne and Wear |
NE1 1RN |
Jonpye Bathrooms + Kitchens Ltd (Registered number: 05025518) |
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Balance Sheet |
28 February 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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8,296 | 3,239 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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Jonpye Bathrooms + Kitchens Ltd (Registered number: 05025518) |
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Notes to the Financial Statements |
for the Year Ended 28 February 2021 |
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1. | STATUTORY INFORMATION |
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Jonpye Bathrooms + Kitchens Ltd is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. |
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The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity. |
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Rendering of services: |
The company provides kitchen and bathroom fitting services. When the outcome of a transaction for the rendering of services can be estimated reliably in terms of revenue, costs, and its stage of completion, the company recognises revenue on the sales of services in the reporting period in which the services are rendered by reference to the stage of completion of the specific transaction at the end of the reporting period. The stage of completion is determined on the basis of the actual completion of a proportion of the total services to be rendered. |
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When the outcome of a service contract cannot be estimated reliably the company only recognises revenue to the extent of the recoverable expenses recognised. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. |
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Impairment of assets |
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit and loss. |
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If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss. |
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Stocks |
Stocks are valued at the lower of cost and estimated selling price less costs to sell. |
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Jonpye Bathrooms + Kitchens Ltd (Registered number: 05025518) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2021 |
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3. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. |
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Current taxation is the amount of taxation payable in respect of the taxable profit for the year or prior years. |
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A deferred taxation asset or liability is recognised for tax recoverable or payable in future periods in respect of transactions and events recognised in the financial statements of the current and previous period. |
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Deferred taxation arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. Timing differences result from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. |
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Deferred taxation recognised on all timing differences at the reporting date apart from certain exceptions. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that the directors consider that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Deferred taxation is measured using the tax rates and laws that have been enacted or subsequently enacted by the reporting date and that are expected to apply to the reversal of the timing differences. |
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Finance leases and other leasing commitments |
Property, plant and equipment acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of future finance charges, are included in creditors. |
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Rentals payable under operating leases are charged to the profit and loss on a straight line basis over the period of the lease. |
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Employee benefits |
Short-term employee benefits are recognised as an expense in the period in which they are incurred. |
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Financial instruments |
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments on non-puttable ordinary shares. |
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Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 March 2020 |
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Additions |
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Disposals | ( |
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At 28 February 2021 |
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DEPRECIATION |
At 1 March 2020 |
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Charge for year |
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Eliminated on disposal | ( |
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At 28 February 2021 |
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NET BOOK VALUE |
At 28 February 2021 |
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At 29 February 2020 |
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Jonpye Bathrooms + Kitchens Ltd (Registered number: 05025518) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2021 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
£ | £ |
Other creditors |
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